CDs
Yields: 1.32 percent (1-year CD yield); 2.26 percent (5-year CD yield)The average yield for one-year CDs dropped 3 basis points to 1.32 percent this week. The average yield for five-year CDs now stands at 2.26 percent, a decline of 1 basis point. To compare, the yield on a one-year Treasury is 0.58 percent and the five-year is at 1.82 percent. Even with the benefit of not having to pay state or local taxes on interest income earned on Treasuries, the CDs remain a significantly better deal.
Jumbo CDs came in at 1.44 percent for the one-year, a drop of 2 basis points; and 2.29 percent on the five-year, down 1 basis point from last week.
Check Bankrate's high-yield CDs for some of the best returns available nationwide.
Money market accounts fell by an average of 1 basis point this week to a yield of 0.44 percent.
Bankrate's high-yield money market account tables list several banks paying better than 2 percent.
All deposit products listed with Bankrate are FDIC-insured.
-- Laura Bruce